Cantor Fitzgerald Reiterates “Overweight” Rating for Pfizer (NYSE:PFE)

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $45.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 51.34% from the company’s previous close.

Several other research analysts have also recently commented on the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

NYSE:PFE opened at $29.74 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer has a one year low of $25.20 and a one year high of $34.62. The company has a fifty day moving average price of $29.12 and a 200 day moving average price of $28.08. The stock has a market cap of $168.50 billion, a P/E ratio of -495.50, a PEG ratio of 1.00 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that Pfizer will post 2.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bluefin Capital Management LLC lifted its position in shares of Pfizer by 9.0% during the second quarter. Bluefin Capital Management LLC now owns 10,569 shares of the biopharmaceutical company’s stock worth $296,000 after purchasing an additional 869 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of Pfizer in the second quarter valued at approximately $1,351,000. Lazari Capital Management Inc. raised its position in Pfizer by 2.9% in the 2nd quarter. Lazari Capital Management Inc. now owns 18,895 shares of the biopharmaceutical company’s stock worth $529,000 after purchasing an additional 536 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Pfizer during the 2nd quarter worth $16,534,000. Finally, Brown Financial Advisors bought a new position in Pfizer in the 2nd quarter valued at $705,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.